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Category Archives: Packaging

Beta Glass Plc, on Friday reported its first quarter results for the 2017 financial year, with the glass bottle and metal crowns company posting a profit after tax of N800m, up from N62m declared in the same period in 2016.

The company which has sustained strong sales and profit growth in the last three quarters said that revenue in the first quarter grew 44% to N4.4bn bolstered by a surge in local demand as foreign exchange headwinds force a drop in imports.

Beta Glass Plc, the glass container and metal crowns company on Friday reported its results for the 2016 financial year, with the firm maintaining the same momentum it experienced in the first nine months of the year.

The company said that full year profit grew 91% to N3.8bn, from nearly N2bn in the previous year, driven by a surge in local demand as foreign exchange headwinds force a drop in imports.

Avon Crowncaps & Containers Nigeria Plc, makers of screw caps and metal containers for the beverage industry and others said that revenue for the third quarter (Oct – Dec) rose 67% to N6.4bn, from N3.8bn in the prior period.

However, a higher cost of sales of N5.8bn, an 87% increase from the prior year’s N3.1bn left little gain in the form of operating profit to cover expenses.

Avon Crowncaps & Containers Nigeria Plc, makers of screw caps and metal containers for the beverage industry reported a net loss of N86m for the third quarter ending 30th September. In the same period in 2015, it recorded a net loss of N16m.

South Africa-based Nampak, maker of glass bottles, metal cans and a range of cardboard boxes for the beverage industry among others, said on Monday that full-year results ending 30th September 2016 was positive, with revenue rising 11% to R19.1bn ($1.4bn) and group trading profit up 4% to R1.9bn ($139m).

“The performance was due to the turnaround at Glass, good trading in Nigeria and Zimbabwe, volume increases from new customers and benefits from operational improvements that resulted in improved efficiencies and cost savings. The group-wide comprehensive performance improvement plan is delivering good results,” said Nampak CEO, André de Ruyter.

Beta Glass Plc, the glass container and metal crowns company on Thursday reported a profit surge of 81% for the first 9-months of 2016, rising to N2.9bn, from N1.6bn in 2015.

Despite the macroeconomic difficulties hampering the activities of some of its trading partners, Beta glass said that revenue for the 9-months ending 30th September grew 16% to N13.3b, from N11.5bn in the preceding year.

The Irish Whiskey Association has unveiled a new campaign to protect the category from products that are wrongly advertised, packaged, displayed or named in a way that makes them appear to be Irish Whiskey.

The group said that Irish whiskey must be distilled and matured in wooden casks on the Island of Ireland for at least three years for it to be called Irish whiskey. They add that the campaign is directed at whiskey producers, distributors and all who value Irish whiskey.

Avon Crowncaps & Containers Nigeria Plc, manufacturers of screw caps, metal containers and steel drums for a diverse industry which includes beverage companies (makers of soft drinks, juice, dairy, brewers, spirits producers), pharmaceutical and oil industries among others reported a net loss of N202 million in the first quarter of 2016 (Apr – Jun) despite posting a 20% rise in revenue to N4bn, up from N3.4bn from the same period in the previous year.

Beta Glass Plc, the glass bottle and container maker for the beverage, pharmaceutical and cosmetics industries is seeking to reinstate the Export Expansion Grant (EEG) by the Federal Government, to enable it export its products and earn much needed foreign exchange.

At the company’s Annual General Meeting (AGM), which held in Lagos recently, Beta Glass declared a net income of N2bn for the 2015 financial-year despite foreign exchange challenges and economic headwinds.